CYSECCyprus Securities and Exchange Commission
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Investors were approached and asked to pay fees in exchange for help in settling compensation claims against businesses under CySEC's supervision, the regulator said.
This warning comes in line with the International Organization of Securities Commissions (IOSCO) Multilateral Memorandum of Understanding (MMoU) concerning consultation and cooperation and the exchange of information to which the CBB and the CySEC are both signatories.
According to CySEC, from the e1/46.7 bln AUM, around 98% came from the Investment Funds Sector and only 2% are sub threshold AIFMs -- closed-ended Investment Companies listed on the CSE.
RoboMarkets is a trademark of RoboForex (CY) Ltd, a European broker with the CySEC license No.
But a CYSEC spokesman said: "Stern Options are not licensed or supervised by CYSEC and investors should be warned that they are not protected by the legislation CYSEC has in place to protect consumers."
HYCM, an FCA-regulated global leader in online capital markets trading, has confirmed that its Cyprus-based entity HYCM Europe is licenced and regulated by the Cyprus Securities and Exchange Commission (CySEC), the company said.
aACoeOver 2013, a number of brokers have jumped at the opportunity to gain CySEC regulation.
All brokers that plan to operate in the Eurozone will also have to qualify for a license from CySec.
MANAMA: The Central Bank of Bahrain (CBB) has issued a warning about scammers posing as representatives of the Cyprus Securities and Exchange Commission (CySEC).
The Cyprus Securities and Exchange Commission (CySEC), the island's regulator of financial services and investments, has revised the directive for the investors' compensation fund (TAE), to benefit individuals who lose their money when a KEPEY investment fund goes belly up.
After the attorney-general, the island's securities and exchange commission (CySEC) also expressed its disagreement over a Supreme Court decision that acquitted a top banker on appeal, after he was jailed for two and half years for market manipulation.